GOODWILL AND OTHER INTANGIBLE ASSETS, NET

6 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

Goodwill as of December 31, 2019 and June 30, 2019 is presented below:

	Luxury		Consumer Beauty		Professional Beauty		Total
Gross balance at June 30, 2019	$	3,325.4	$	4,844.6	$	935.7	$	9,105.7
Accumulated impairments	(403.7)		(3,628.2)		—		(4,031.9)
Net balance at June 30, 2019	$	2,921.7	$	1,216.4	$	935.7	$	5,073.8
Changes during the period ended December 31, 2019
Disposition of business	$	—	$	(23.4)	$	—	$	(23.4)
Foreign currency translation	(25.3)		(18.7)		9.6		(34.4)
Gross balance at December 31, 2019	$	3,300.1	$	4,802.5	$	945.3	$	9,047.9
Accumulated impairments	(403.7)		(3,628.2)		—		(4,031.9)
Net balance at December 31, 2019	$	2,896.4	$	1,174.3	$	945.3	$	5,016.0

Other Intangible Assets, net

Other intangible assets, net as of December 31, 2019 and June 30, 2019 are presented below:

	December 31, 2019		June 30, 2019
Indefinite-lived other intangible assets	$	2,727.0	$	2,729.8
Finite-lived other intangible assets, net	4,265.5		4,692.5
Total Other intangible assets, net	$	6,992.5	$	7,422.3

The changes in the carrying amount of indefinite-lived other intangible assets are presented below:

	Luxury		Consumer Beauty		Professional Beauty		Total
Gross balance at June 30, 2019	$	405.8	$	1,693.1	$	1,257.8	$	3,356.7
Accumulated impairments	(228.4)		(368.4)		(30.1)		(626.9)
Net balance at June 30, 2019	$	177.4	$	1,324.7	$	1,227.7	$	2,729.8
Changes during the period ended December 31, 2019
Foreign currency translation	$	(2.4)	$	(4.1)	$	3.7	$	(2.8)
Gross balance at December 31, 2019	$	403.4	$	1,689	$	1,261.5	$	3,353.9
Accumulated impairments	(228.4)		(368.4)		(30.1)		(626.9)
Net balance at December 31, 2019	$	175.0	$	1,320.6	$	1,231.4	$	2,727.0

Intangible assets subject to amortization are presented below:

	Cost		Accumulated Amortization		Accumulated Impairment		Net
June 30, 2019
License agreements	$	3,245.3	$	(874.5)	$	(19.6)	$	2,351.2
Customer relationships	1,951.6		(642.0)		(5.5)		1,304.1
Trademarks	1,039.5		(229.4)		(0.5)		809.6
Product formulations and technology	354.1		(126.5)		—		227.6
Total	$	6,590.5	$	(1,872.4)	$	(25.6)	$	4,692.5
December 31, 2019
License agreements	$	3,209.5	$	(937.7)	$	(19.6)	$	2,252.2
Customer relationships	1,746.1		(622.0)		(5.5)		1,118.6
Trademarks	914.1		(233.6)		(0.5)		680.0
Product formulations and technology	356.3		(141.6)		—		214.7
Total	$	6,226.0	$	(1,934.9)	$	(25.6)	$	4,265.5

In July 2018, the Company acquired a trademark associated with a preexisting license. As a result of the acquisition, the preexisting license was effectively terminated, and accordingly the Company recorded $12.6 of Asset impairment charges in the Condensed Consolidated Statement of Operations related to the license agreement.

In September 2019, the Company divested all of its membership interest in Foundation, which held the net assets of Younique (including goodwill of $23.4 and other intangible assets of $228.6). Refer to Note 5—Business Combinations, Asset Acquisitions and Divestitures.

Amortization expense was $76.8 and $88.5 for the three months ended December 31, 2019 and 2018, respectively and $161.1 and $181.0 for the six months ended December 31, 2019 and 2018, respectively.